Schrödinger (NASDAQ:SDGR) Announces Quarterly Earnings Results

Schrödinger (NASDAQ:SDGR) released its quarterly earnings results on Tuesday. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12), Zacks reports. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The company had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $41.25 million. During the same period in the prior year, the firm earned ($0.86) EPS. Schrödinger’s quarterly revenue was down 17.1% on a year-over-year basis. Schrödinger updated its FY 2024 guidance to EPS.

Schrödinger Trading Down 7.8 %

Shares of SDGR opened at $20.37 on Friday. Schrödinger has a 1-year low of $16.67 and a 1-year high of $38.00. The firm’s 50-day moving average price is $18.76 and its 200-day moving average price is $20.42. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -8.71 and a beta of 1.50.

Insider Buying and Selling

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total value of $27,221.18. Following the completion of the transaction, the insider now owns 13,469 shares in the company, valued at approximately $239,478.82. This represents a 10.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Analyst Ratings Changes

SDGR has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, August 21st. BMO Capital Markets lifted their price objective on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.90.

Schrödinger Company Profile

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.